Western Union 2014 Annual Report Download - page 202

2014 FORM 10-K
64
Consumer-to-Consumer Segment
The following table sets forth our Consumer-to-Consumer segment results of operations for the years ended December 31,
2014, 2013 and 2012.
% Change
Year Ended December 31, 2014 2013
(dollars and transactions in millions) 2014 2013 2012 vs. 2013 vs. 2012
Revenues:
Transaction fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,421.8 $ 3,396.1 $ 3,545.6 1% (4)%
Foreign exchange revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . 998.9 981.3 988.5 2% (1)%
Other revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.1 56.2 50.2 16% 12 %
Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,485.8 $ 4,433.6 $ 4,584.3 1% (3)%
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,050.4 $ 1,030.4 $ 1,266.9 2% (19)%
Operating income margin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23% 23% 28%
Key indicator:
Consumer-to-Consumer transactions . . . . . . . . . . . . . . . . . . . . . . 254.93 242.34 230.98 5% 5 %
We view our Consumer-to-Consumer money transfer service as one interconnected global network where a money transfer
can be sent from one location to another, around the world. The segment includes five geographic regions whose functions are
limited to generating, managing and maintaining agent relationships and localized marketing activities and also includes our online
money transfer service conducted through Western Union branded websites ("westernunion.com"). By means of common processes
and systems, these regions and westernunion.com create an interconnected network for consumer transactions, thereby constituting
one global Consumer-to-Consumer money transfer business and one operating segment.
Significant allocations are made in determining the transaction and revenue changes under the regional view in the tables that
follow. The geographic split for transactions and revenue is determined based upon the region where the money transfer is initiated
and the region where the money transfer is paid. For transactions originated and paid in different regions, we split the transaction
count and revenue between the two regions, with each region receiving 50%. For money transfers initiated and paid in the same
region, 100% of the revenue and transactions are attributed to that region. For money transfers initiated through our websites,
100% of the revenue and transactions are attributed to westernunion.com.